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5 essential methods for traveling on a tight budget

James Wilkins| Posted on 2018-02-02 | ~2 min read

1) Exchange your money before you go

It’s crucial you don’t leave exchanging your money up until you’re actually abroad. When using money exchanges whilst traveling as opposed to doing it in advance, you’re putting yourself at risk of everything from dodgy rates to total scams, which could leave you completely out of pocket if you’re not careful.

Be sure to exchange your money before you go, in order to secure the best rates and ensure you’ve got your budget ready. Consider a prepaid travel card, too – these allow you to lock in the exchange rate and avoid any future fluctuations and will act like a typical credit/debit card once you’re actually out traveling.

2) Fly through the night

Flights can often be the thing you spend the most money on, especially when hopping from country to country as you travel. Thankfully, there’s an easy way to cut the costs on your transport – but it will come at a cost of a good night’s sleep, as flying through the night is the key to cheaper prices, as echoed by the Secret Traveller

Be sure to look at unsociable hours for flying, as you’ll be surprised at just how little the prices are compared to peak times – airlines know when demand is highest, and subsequently adapt the costs as such. Different days of the week make for lower or higher prices, too, so try and avoid the weekends for the best deals.

3) Stay in hostels, not hotels

Although you might desire the luxurious, five-star suites and giant swimming pools, traveling is about exploring – and so you likely won’t spend much time in your accommodation at all. With that being said, there’s an opportunity to cut costs here, and so choose somewhere to stay that won’t set you back in terms of your budget.

Hostels are a great choice of accommodation for travellers on a tight budget – they’re clean, comfortable and probably a lot nicer than you may anticipate. Do your research on the local area to find the best hostels available to you.

4) Establish a daily budget

If you’re trying to keep track of your costs, a daily budget is paramount. Think about your expenditure in each and every area of your trip, from the necessities – food, transport, accommodation etc. – as well as the extras you’ll likely be spending money on.

It’s important you’re mapping out just how much you can afford to spend on every part of your trip so that you’re not investing too much money into something and cutting your money short elsewhere.

5) Be vigilant and look out for scammers

One of the quickest ways to cut your budget short when you travel is by falling victim to a scam. Be sure to stay vigilant and cautious wherever you are in the world because some common practices in certain hotspots often catch travelers out – marketplaces, taxis and money exchanges are the most common points.

Be sure to haggle should you be faced with a vendor whose prices seem extortionate. Often vendors hike their prices up when dealing with a tourist, in the hope they’d be unaware and end up falling for the scam. Haggling is a common practice often used by travelers worldwide, so don’t hesitate to try your own hand at it.

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